12th Class ICom Part 2 Principles of Banking Chapter Wise Online MCQ Test with answers PDF English Medium

Principles of Banking Icom Part 2 English Medium Online Test

Sr. #	Questions	Answers Choice
1	IOU is a document	Negotiable Non-negotiable Conditional negotiable Unconditional negotiable
2	I Owe You is a written instrument drawn by	Trader Debtor Creditor All the above
3	What does IOU mean	I am a debtor to you I am a creditor to you Both a and b None of these
4	What is the nature of credit instrument IOU	An autograph A monograph A holograph A sonograph
5	Which of the following is used to finance the people who want to travel abroad	Traveller's letter of credit Traveller's cheque Circular note All the above
6	Which of the following is an order of payment by one post office for another post office	Postal order Money order Both a and b None of these
7	A person in whose favour the rights of bill are transferred is called	Drawer Payee Endorsee All of the above
8	Bills of exchange is a negotiable instrument which contains	A written order Conditional written order Unconditional written order None of the above
9	A bill which can be rediscounted from central bank	Sight bill Time bill Both a and b None of these
10	Drawee fo bills of exchange is a person	Who receives the amount of bill On whom the bill is drawn Who accepts the bill In whose favour the bill is transferred
11	Retirement of bill means	Payment of bill before due date Dishonoring of bill due to non-payment Protesting of bill Dishonoring of bill due to non-acceptance
12	Bill which is drawn without any trade transcation	Sight bill Time bill Trade bill Accommodation bill
13	Credit instrument drawn by one bank on another bank is called	Cheque Bills of exchange Bank draft Treasury bill
14	Drawee of the bank draft is a	Bank which issues a draft Bank on which the draft is drawn Payee of draft Sender of amount by draft
15	A person who writes the bill is called	Drawee Drawer Payee Acceptor

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